Definition of Pooled Loan


Pooled Loan means any Existing Loan that encumbers a pool of multiple Real Properties.

Examples of Pooled Loan in a sentence

In no event, however, shall Buyer deliver a Kickout Notice with respect to a Pooled Property if all such Lender Encumbered Properties subject to the Pooled Loan would exceed the Maximum Kickout Properties.
Agency Takeout Loan shall mean a Loan that is an Agency Eligible Loan (other than a Pooled Loan) and is subject to a Takeout Commitment of the kind described in clause (a) of the definition of Takeout Commitment.
Seller acknowledges that it will cause each Pooled Loan transferred hereunder as evidenced by a Participation Certificate to be converted into an Agency Security relating to such Pooled Loan, such Agency Security to be backed by Pooled Loans.
Upon sale or other disposition as contemplated herein, Buyer (or a subsequent registered holder of a Participation Certificate) shall surrender the Participation Certificate (to the extent in its possession) to Custodian upon the earliest to occur of (i) the sale or transfer of such Participation Certificate and (ii) the assignment and delivery to Buyer of the entire Pooled Loan Ownership Interest.
From time to time the parties hereto may enter into transactions in which Seller agrees to transfer to Buyer all of Seller's right, title and interest in and to designated pools of fully amortizing first lien residential Mortgage Loans (defined below) (each such pool of Mortgage Loans so purchased and sold, a "Pooled Loan"), each in the form of a 100% Participation Interest evidenced by a Participation Certificate, against the transfer of funds by Buyer, as more particularly set forth herein.